AUSTIN, TX, Aug. 15, 2011 /PRNewswire/ - Akela Pharma, Inc. ("Akela"),
(TSX: AKL) and PharmaForm, a leading specialty contract service
provider in the area of pharmaceutical dosage form development and
manufacturing, today announced its financial results for the three and
six months and year ended June 30, 2011.

Total consolidated revenues for the three months ended June 30, 2011
were $3.1 million, including $2.4 million of contract services, as
compared to $3.1 million, including $2.4 million of contract services,
for the same period during the previous year. Total consolidated
revenues for the six months ended June 30, 2011 were $7.3 million as
compared to $5.7 million for the same period in 2010.

Consolidated net income (loss) for the three months ended June 30, 2011
was ($0.52) million, or ($0.02) per share, versus $0.15 million or
$0.01 per share, for the same period in 2010. Consolidated net income
for the six months ended June 30, 2011 was $0.48 million vs. $0.17
million, for the same period in 2010.

Three Months Ended

Six Months Ended

June 30

June 30

2011

2010

2011

2010

Total Comprehensive income(loss)

(516)

150

478

(173)

Basic and diluted net income (loss) per share

$

(0.02)

$

0.00

$

0.01

$

(0.01)

Basic and diluted weighted average

30,952,838

31,015,338

32,525,685

30,952,838

The Company had a cash balance of $0.21 as of June 30, as compared with
$0.14 million as of March 31, 2011.

About Akela Pharma Inc.

Akela Pharma is the parent company of PharmaForm, and its common shares
trade on The Toronto Stock Exchange ("TSX") under the symbol "AKL" with
32.4 million shares outstanding.

About PharmaForm

PharmaForm, a wholly-owned subsidiary of Akela Pharma, Inc, is a leading
specialty contract manufacturer in the area of pharmaceutical dosage
form development, specializing in controlled release and
bioavailability enhancement technologies, such as hot melt extrusion,
fluid bed processing, liquid filled capsules, and spray drying. Through
its diverse offerings, PharmaForm solutions help pharmaceutical and
biotechnology clients reach their drug development targets, reduce
development costs and accelerate time-to-market for their products.

This press release contains statements which may constitute
forward-looking information under applicable Canadian securities
legislation or forward-looking statements within the meaning of the
United States Private Securities Litigation Reform Act of 1955. Such
forward-looking statements or information may include financial and
other projections as well as statements regarding the company's future
plans, objectives, performance, revenues, growth, profits, operating
expenses or the company's underlying assumptions. The words "may",
"would", "could", "will", "likely", "expect", anticipate", "intend",
"plan", "forecast", "project", "estimate" and "believe" or other
similar words and phrases may identify forward-looking statements or
information. Persons reading this press release are cautioned that such
statements or information are only expectations, and that the company's
actual future results or performance may be materially different.

Forward-looking statements or information in this press release include,
but are not limited to, statements or information concerning our
ongoing drug development programs and collaborations as well as the
possible receipt of future payments upon achievement of milestones.

Such forward-looking statements or information involve known and unknown
risks, uncertainties and other factors that may cause our actual
results, events or developments to be materially different from
results, events or developments expressed or implied by such
forward-looking statements or information. Such factors include, among
others, the possibility that risks associated with requirements for
approvals by government agencies such as the FDA before products can be
tested in clinical trials; the possibility that such government agency
approvals will not be obtained in a timely manner or at all or will be
conditioned in a manner that would impair our ability to advance
development; risks associated with the requirement that a drug
candidate be found safe and effective after extensive clinical trials;
our dependence on suppliers, collaborative partners and other third
parties and the prospects and timing for negotiating supply agreements,
corporate collaborations or licensing arrangements; our ability to
attract and retain key personnel; and other factors as described in
detail in our filings with the Canadian securities regulatory
authorities at http:www.sedar.com.

Assumptions underlying our expectations regarding forward-looking
statements or information contained in this press release include,
among others, that future clinical trial results will be favorable;
that our drug candidate will treat target diseases as intended; that we
will raise enough capital, on reasonable terms and in a timely manner;
that we will retain our key personnel; that we will obtain the
necessary regulatory approvals.

In the event that any of these assumptions prove to be incorrect, or in
the event that we are impacted by any of the risks identified above, we
may not be able to continue in our business as planned.

For a complete discussion of the assumptions, risks and uncertainties
related to our business, you are encouraged to review our filings with
Canadian securities regulatory authorities, filed on SEDAR at http://www.sedar.com.

All forward-looking statements and information made herein are based on
our current expectations as of the date hereof and we disclaim any
intention or obligation to revise or update such forward-looking
statements and information to reflect subsequent events or
circumstances, except as required by law.